Is Miami inventory rising or falling?

Right now, the number of homes for sale in Miami is going down. This means there are fewer houses on the market compared to this time last year. This trend has been happening for a while now. Active listings, which are the homes currently for sale, have decreased by 16.9% over the past year. This significant drop shows that options for buyers are becoming more limited. While new listings are also down slightly by 2.9% compared to last year, the larger drop in active listings means that homes are being bought faster than new ones are coming onto the market. This creates a tighter market for buyers. Because there are fewer homes available, buyers might find it a bit harder to find exactly what they’re looking for. It also means there’s more competition for the homes that are listed. If you're looking to buy in Miami, be prepared to act quickly when you find a home you like, as there are fewer choices available.